Zurich Insurance Group Ltd FI Boosts Stake in Hanesbrands Inc. (HBI)
Zurich Insurance Group Ltd FI increased its position in Hanesbrands Inc. (NYSE:HBI) by 169.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 125,905 shares of the textile maker’s stock after purchasing an additional 79,105 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Hanesbrands were worth $2,916,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Hanesbrands by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock valued at $767,336,000 after purchasing an additional 2,158,679 shares during the last quarter. Park Avenue Institutional Advisers LLC purchased a new stake in shares of Hanesbrands in the 1st quarter valued at about $534,000. BB&T Corp lifted its holdings in shares of Hanesbrands by 3.2% in the 2nd quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock valued at $12,995,000 after purchasing an additional 17,312 shares during the last quarter. Freestone Capital Holdings LLC lifted its holdings in shares of Hanesbrands by 14.0% in the 2nd quarter. Freestone Capital Holdings LLC now owns 180,729 shares of the textile maker’s stock valued at $4,186,000 after purchasing an additional 22,190 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Hanesbrands by 21.2% in the 1st quarter. Morgan Stanley now owns 4,009,081 shares of the textile maker’s stock valued at $83,228,000 after purchasing an additional 701,732 shares during the last quarter. 94.29% of the stock is owned by institutional investors and hedge funds.
Hanesbrands Inc. (NYSE:HBI) opened at 23.6635 on Thursday. The firm’s 50-day moving average price is $24.52 and its 200 day moving average price is $22.65. The firm has a market cap of $8.62 billion, a PE ratio of 15.5069 and a beta of 0.72. Hanesbrands Inc. has a 52-week low of $18.91 and a 52-week high of $27.07.
Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.53. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. On average, equities analysts anticipate that Hanesbrands Inc. will post $1.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.53%. Hanesbrands’s dividend payout ratio (DPR) is presently 39.47%.
WARNING: This piece of content was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/10/05/zurich-insurance-group-ltd-fi-boosts-stake-in-hanesbrands-inc-hbi.html.
In other news, insider John T. Marsh sold 10,325 shares of Hanesbrands stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $24.27, for a total transaction of $250,587.75. Following the sale, the insider now owns 99,997 shares of the company’s stock, valued at $2,426,927.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard D. Moss sold 20,000 shares of Hanesbrands stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $24.08, for a total value of $481,600.00. Following the sale, the chief financial officer now directly owns 254,487 shares in the company, valued at approximately $6,128,046.96. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several analysts have recently weighed in on the company. BidaskClub raised Hanesbrands from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Vetr downgraded Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 target price for the company. in a report on Monday, August 7th. Zacks Investment Research downgraded Hanesbrands from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Credit Suisse Group reissued a “buy” rating and issued a $30.00 target price on shares of Hanesbrands in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $23.00 target price on shares of Hanesbrands in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.27.
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
Want to see what other hedge funds are holding HBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hanesbrands Inc. (NYSE:HBI).
Receive News & Stock Ratings for Hanesbrands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands Inc. and related stocks with our FREE daily email newsletter.